Naoris Offers Bounties to Combat Quantum Threats in Cryptography

Naoris, a cybersecurity firm dedicated to protecting digital assets from quantum computing risks, has announced bounties for anyone who can breach the encryption algorithms securing major blockchain networks. They are offering a total of $120,000, roughly equivalent to one Bitcoin, for successfully compromising key cryptographic algorithms in the crypto sector. The largest reward of $50,000 targets the secp256k1 standard, crucial for Bitcoin and Ethereum. A $30,000 bounty is available for breaking Ed25519, used by Solana and messaging apps like Signal and WhatsApp. Additionally, Naoris offers $20,000 for attacks on NIST P-256, which secures internet traffic, and $10,000 for other elliptic curves. The implications of compromising these algorithms could be severe, potentially disrupting Bitcoin and other blockchain systems. While quantum computers are not yet capable of breaking modern cryptography, experts warn it is only a matter of time. The crypto community is proactively seeking solutions, including a new Bitcoin Improvement Proposal aimed at addressing these quantum threats. Read more AI-generated news on: https://app.chaingpt.org/news